en.Wedoany.com Reported - Estonian climate technology company UP Catalyst plans to establish a large-scale production facility in Finland, utilizing a molten salt electrolysis process to convert captured carbon dioxide into battery-grade graphite and carbon nanotubes. The facility is expected to have an annual production capacity of approximately 20,000 tons and is scheduled to begin operations in 2031.

The company has signed a letter of intent with Finnish energy supplier Oulun Energia to explore the use of carbon dioxide captured at Oulun Energia's facility in Oulu, Finland, as a future production feedstock. The parties will assess opportunities for industrial integration, energy infrastructure development, and utilization of CO2 streams, and will consider locating the facility in the Oulu industrial park. UP Catalyst employs a proprietary molten salt electrolysis process to convert captured carbon dioxide into sustainable carbon materials for batteries and other industrial applications.

UP Catalyst stated that Finland has become a strategic location for its next phase of development due to its mature industrial base, competitively priced and clean energy supply, and its increasingly important role in the European battery manufacturing ecosystem. UP Catalyst CEO Rait Maasikas noted that Finland provides a solid foundation for industrial scaling, including a reliable power grid, competitive clean energy, robust industrial infrastructure, and clear support for clean transition technologies.

Kimmo Alatulkkila, Head of New Business at Oulun Energia, pointed out that the project aligns with the company's strategy of achieving growth through the green transition while fulfilling its mission of recycling materials and enhancing vitality in northern Finland. Construction could begin before the end of this decade.

The project has also received support from Finland's investment and innovation ecosystem. Earlier this year, Business Finland, the Finnish national business promotion agency, granted UP Catalyst a tax credit of €47 million (approximately $54.5 million) under its large-scale project investment support program to help achieve a climate-neutral economy.

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